Have you ever been curious regarding exactly what eventually becomes of all the items that the various departments and branches of the federal, state and local governments purchase every year? These government departments have been in operations for years, right? And, each year they’re buying up hoards of new items. These new items, for the most part, aren’t things they need to run the department and haven’t yet acquired — when a government agency or department is formed, they purchase everything they need to operate almost immediately. So, what’s the purpose of these yearly purchases? The purpose is that the acquisition of these new goods and items usually act as replacements for old items — it’s updated equipment and supplies. And, what happens to the old stuff that the new stuff is replacing? Do you think it just gets thrown out into the trash? Well, for the most part, it doesn’t.
As a matter of law, any unused, old or outdated items that the government purchases with tax-payer money — anything that is no longer needed, wanted or of any real use to the government — must be sold back to the public as government surplus at a government surplus auction that’s open to the public. There are two basic ways that the government fulfills this requirement of law: by holding live, government auctions that the public is free to attend, and through online auctions that are also open to the general public.
At a live, government surplus auction the governmental department that is selling off their surplus goods will usually publish a notice somewhere — often in newspapers, or online — which will announce the date, time, location of the auctions, and often provide a general list of the items which they’ll be putting up for auction. In most cases there will be a pre-auction inspection date, or dates, announced wherein members of the public can see and inspect the goods that will be going up for auction prior to the day of the auction. The government surplus auctions are most often open to the general public at large, but there is usually a requirement to pre-register if you wish to attend, and the number of attendees can be limited. The pre-registration will often operate on a first-come-first-serve basis.
In addition to regularly hosting live, on-site government surplus auctions, various government agencies and departments also sell their goods via online auction. These auctions are also open to the general public — all you need is an internet connection, and the website address of one of these online auctions. Various state and local government bodies use a variety of online auction locations, but most federal government departments and agencies (With the exception of the military) conduct their online government surplus auctions through the U.S. General Services Administration. The USGSA website is located at http://gsa.gov/ The various departments of the US Military use the website http://www.govliquidation.com/ to conduct their public surplus auctions.
The great thing about all of these government surplus auctions, and how they can help you to earn a fortune through your own online store, is that items that are regularly sold at such government surplus auctions sell for incredibly reduced prices. It’s often possible to acquire like-new equipment and other merchandise at prices of 70%, 80%, or even 90% or sometimes more, below their current market value. It is also common to find large quantity lots of like-new items at extraordinary savings. It’s not unheard of to find a government surplus auction wherein their might be a lot of, say, 20 like-new, in working condition, computer printers up for grabs, and the high bidder manages to snag them for 90% off their current market value per unit. If you were to have been the successful bidder on that deal, you could turn around and stock your online store with those printers, offer them 40% cheaper than their current market value and still double your investment.
There’s no doubt that government surplus auctions are an attractive and very viable avenue for finding stock for your online store that you can sell quickly and still at substantial markups.
For all the free information you could likely ever want regarding the hows and whys of taking advantage of government surplus auctions, and other types of surplus and auction sources, I recommended paying a visit to the website SurplusBusiness.Com.